New Zealand Gazette – 1994 – No. 94

Page 2885

✨ Irrigation Schemes Sale Terms



16 SEPTEMBER NEW ZEALAND GAZETTE 2885

  1. Water Rates Revenue Refunded

Revenue collected by the Ministry of Agriculture and Fisheries for water sup- plied during the irrigation season or seasons prior to the effective date and paid to the Purchaser. If the Crown continued to operate the scheme after the effective date, the operating costs were deducted from the revenue due to be re- funded to the Purchaser. This revenue was not included in the assets valued for sale.

The revenue was returned because of the cash flow effects of changing from a system of charging in arrears to current invoicing. In the past, irrigators were invoiced annually after the end of the irrigation season. This meant that in a year the irrigators took over responsibility for the scheme, water rates paid to the Crown for operating the scheme during the previous irrigation season oc- curred at the same time as the irrigators commenced payments for current op- erations under their own company structure.

  1. Other Payments by the Crown

These are grants to complete the initial construction of new schemes or to cover the liabilities of completed schemes such as compensation for cancellation of water supply agreements, completion of dam investigations, provision of new works to improve or extend the water supply, refurbishment of water races.

  1. Net Settlement

The amount of settlement had regard to the purchase price, water rates revenue refunded less any work done by the Crown for the Purchaser after the effective date, payments by the Crown and penalty interest.

Financial settlement was concluded with a payment by either the Purchaser or the Crown. Late payments attracted penalty interest where there was an agree- ment to do so.

  1. Debtors Transferred to the Purchaser

Revenue not collected by the Crown for water supplied during irrigation sea- sons prior to the effective date. The debtors ledger was transferred to the pur- chaser with the right to collect the debts.



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1994, No 94


NZLII — PDF NZ Gazette 1994, No 94




✨ LLM interpretation of page content

🌾 Glossary of Terms for Irrigation Schemes Sale (continued from previous page)

🌾 Primary Industries & Resources
Irrigation Schemes, Sale Terms, Glossary, Asset Transfer, Legal Definitions